Some positive news from China concerning measures supporting the economy – the relaxation of Covid controls and health restrictions in major Chinese cities such as Beijing and Shanghai – supported European indices at the beginning of this week, even in the absence of Wall Street due to Memorial Day.
Key figures from Monday’s trading session:
- CAC 40 = +0.72%
- DAX 40 = +0.79%
- EUROSTOXX 50 = +0.86%
- Oil = around $121 a barrel
- Gold = around $1,855 per ounce
- EUR/USD = around 1.0779
- GBP/USD = around 1.2655
- AUD/USD = around 0.7169
- USD/JPY = around 127.56
- USD/CAD = around 1.2661
- Bitcoin = around $30,625
- Ethereum = around $1,915
Key facts from Monday’s trading session:
- Yesterday, Australian stocks hit a more than three-week high.
- The CAC40 posted a fourth straight session of gains, a first since November 2021.
- German inflation hit its highest level in 50 years, and Spanish inflation is higher than expected.
- Impasse over Russian oil ban in Europe.
- Oil prices are above $120 a barrel, their highest level in 2 months.
- The UK imposed a windfall tax on energy companies to ease the country’s escalating cost of living crisis.
- Natural gas hit its highest level since 2008.
- The British pound lost around 8% against the dollar since the beginning of the year.
- CAD strengthens to its highest level since April, as the country’s current account surplus reached its highest level in 14 years.
- Bitcoin is close to a 2-week high above $30,000.
What else should you monitor this week?
On Tuesday
- Switzerland – Retail Sales (Apr)
- France – Consumer Spending (Apr)
- France – CPI
- France – GDP
- France – HICP
- Switzerland – GDP (Q1)
- Germany – German Unemployment Change & Unemployment Rate (May)
- Europe – ECB McCaul Speaks
- Italy – CPI (May)
- Europe – CPI
- Italy – Italian 10-Year BTP Auction
- Germany – German Buba Balz Speaks
- Europe – EU Leaders Summit
- Switzerland – SNB Gov Board Member Zurbrugg Speaks
- Canada – GDP
- USA – S&P/CS HPI Composite – 20 n.s.a. (Mar)
- USA – Chicago PMI (May)
- USA – CB Consumer Confidence (May)
- Australia – AIG Manufacturing Index (May)
- Japan – Capital Spending (Q1)
- Australia – GDP (Q1)
- Japan – BOJ Deputy Governor Wakatabe Speaks
- China – Caixin Manufacturing PMI (May)
On Wednesday
- United Kingdom – Nationwide HPI (May)
- Germany – Retail Sales (Apr)
- Spain – Manufacturing PMI (May)
- Switzerland – PMI (May)
- Italy – Manufacturing PMI (May)
- France – Manufacturing PMI (May)
- Germany – Manufacturing PMI (May)
- Europe – Manufacturing PMI (May)
- United Kingdom – Manufacturing PMI (May)
- Europe – Unemployment Rate (Apr)
- Europe – ECB President Lagarde Speaks
- USA – DP Nonfarm Employment Change (May)
- USA – Manufacturing PMI (May)
- USA – ISM Manufacturing PMI (May)
- USA – JOLTs Job Openings (Apr)
- Canada – BoC Rate Statement & Interest Rate Decision
- Europe – ECB’s Panetta Speaks
- USA – FOMC Member Williams Speaks
- Europe – ECB’s Lane Speaks
- USA – FOMC Member Bullard Speaks
- USA – Beige Book
- USA – API Weekly Crude Oil Stock
- Australia – Retail Sales (MoM)
- Australia – Trade Balance (Apr)
- Japan – BoJ Board Member Adachi Speaks
- Japan – 10-Year JGB Auction
On Thursday
- United Kingdom – Bank Holiday
- Switzerland – CPI (May)
- Spain – Unemployment Change
- Germany – German Buba Wuermeling Speaks
- USA – ADP Nonfarm Employment Change (May)
- USA – Initial Jobless Claims
- USA – Nonfarm Productivity (Q1)
- USA – Unit Labor Costs (Q1)
- Canada – Building Permits (Apr)
- USA – Factory Orders (Apr)
- USA – Crude Oil Inventories
- Germany – German Buba Vice President Buch Speaks
- USA – FOMC Member Mester Speaks
- Japan – Services PMI (May)
- Australia – Home Loans
On Friday
- United Kingdom – Bank Holiday
- China & Hong Kong – Dragon Boat Festival
- Germany – German Trade Balance (Apr)
- Spain – Services PMI (May)
- Italy – Services PMI (May)
- France – Services PMI (May)
- Germany – Services PMI (May)
- Europe – Markit Composite PMI (May)
- Europe – Services PMI (May)
- Europe – Retail Sales (Apr)
- Spain – Spanish 10-Year Obligacion Auction
- Europe – ECB’s Enria Speaks
- USA – Average Hourly Earnings (May)
- USA – Nonfarm Payrolls (May)
- USA – Unemployment Rate (May)
- Canada – Labor Productivity (QoQ) (Q1)
- USA – Markit Composite PMI (May)
- USA – Services PMI (May)
- USA – ISM Non-Manufacturing PMI (May)
- USA – FOMC Member Brainard Speaks
- USA – U.S. Baker Hughes Oil Rig Count
